Hubli arrivals push down onion prices

Markets eagerly awaiting imports from Pakistan

Onion prices at the Agricultural Produce Marketing Committee (APMC) today dropped to Rs 13 per kg since fresh stocks arrived from Hubli, Karnataka.

However, the much awaited Pakistani onions, imported to offset the short supply in the domestic market, are yet to hit the markets.

A further decline in the prices is only possible if these stocks hit the market at least by the weekend, traders say. They expect the prices to touch Rs 10 by Diwali. The Centre had announced its decision to import onion from China too.

Officials at JNPT said 72 containers with 360 tonne of onions have received at the port last Monday.

"The process of customs clearance has begun and the freight has been shipped to the local container freight stations," said R T Revankar, chief operations officer, JNPT.

However, the reason for the onions not reaching the market is not yet clear.

The current shortfall is around 50 per cent, with imports from Karnataka meeting only 50 per cent of the demand. Only 75 trucks reached the market today, as against a demand for 150 trucks, market sources said.

The destruction of the standing crop in Nashik and western Maharashtra this year with late rainfall lead to a shortage, with prices hitting Rs 20 per kg in the wholesale market.

Normally, the price of onions in the wholesale market is around Rs 8 per kg, which would become Rs 10 in the retail market.